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Current Attempt in Progress The Wildhorse Compary and The Stveffield Company each started January with 220 units in beginning WiP lriventory: these units had already
Current Attempt in Progress The Wildhorse Compary and The Stveffield Company each started January with 220 units in beginning WiP lriventory: these units had already received 60% of their conversion costs, Both companies began another 2,220 units during January and ended the month with 120 units in ending WIP Inventory. Units in ending WIP Inventory had 80% of conversion costs by the end of January. The Wildhorse Compary adds DM at the very beginning of the process. The Sheffield Compary adds DM when units are 75% complete for comversion costs. Comversion costs are added evenly throughout the process for both comparies. (a) For The Widhorse Compamy: complete Step 1 of the template to verify plysical units and identify desree of completion under the (1)FIFO method and (2) weighted-average method (1) FIFO Method-Widhorse Company (1) FIFO Method-Wildhorse Company STEP 1 Degree of Completion cal Units in Period and esree of Completion Physical Units DM Conversion Costs Totalunas Accounted tor TotalUnits to Acoount for Units in Begrinlis Wip iowntory Unitsin fndins Wiplinwiton Uniti sested this Period Attempts: 0 of 2 used Sidrit Arewer For The Sheffield Compary: complete Step 1 of the template to verify physicilunits and identify degree of completion under the (1) FIFO method and (2) weighted average method. (1) FIFO method-Sheffield Compary miksiohtod-average method-Shefficd Compary
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